Paragon 28 (NYSE:FNA) Sees Large Volume Increase - Here's Why

Paragon 28, Inc. (NYSE:FNA - Get Free Report) saw an uptick in trading volume on Wednesday . 1,843,036 shares were traded during mid-day trading, an increase of 1% from the previous session's volume of 1,828,848 shares.The stock last traded at $13.07 and had previously closed at $12.99.

Analysts Set New Price Targets

Several research firms have issued reports on FNA. Stephens restated an "equal weight" rating and set a $13.00 target price (down previously from $14.00) on shares of Paragon 28 in a research report on Thursday, January 30th. William Blair cut Paragon 28 from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a "hold" rating and set a $13.00 target price on shares of Paragon 28 in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group set a $13.00 price target on shares of Paragon 28 in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Paragon 28 has an average rating of "Hold" and an average target price of $14.20.

Paragon 28 Trading Up 0.0 %

The stock has a market cap of $1.10 billion, a PE ratio of -17.69 and a beta of 1.47. The company has a current ratio of 3.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $13.03 and a two-hundred day simple moving average of $10.59.

Paragon 28 (NYSE:FNA - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). Paragon 28 had a negative net margin of 25.31% and a negative return on equity of 37.90%. The company had revenue of $71.75 million during the quarter, compared to analysts' expectations of $70.81 million. As a group, equities analysts expect that Paragon 28, Inc. will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at Paragon 28

In other Paragon 28 news, major shareholder Mvm Partners, Llc sold 1,044,295 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $13.04, for a total transaction of $13,617,606.80. Following the transaction, the insider now directly owns 7,810,588 shares in the company, valued at $101,850,067.52. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 1,875,984 shares of company stock valued at $24,359,971. Insiders own 15.32% of the company's stock.

Hedge Funds Weigh In On Paragon 28

Several institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in Paragon 28 by 180.6% during the third quarter. Barclays PLC now owns 84,812 shares of the company's stock valued at $567,000 after buying an additional 54,591 shares during the period. JPMorgan Chase & Co. boosted its holdings in Paragon 28 by 2,141.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 784,878 shares of the company's stock valued at $5,243,000 after acquiring an additional 749,865 shares during the period. New York State Common Retirement Fund increased its stake in Paragon 28 by 374.6% in the 4th quarter. New York State Common Retirement Fund now owns 14,570 shares of the company's stock worth $151,000 after purchasing an additional 11,500 shares during the period. Rhumbline Advisers increased its stake in Paragon 28 by 1.7% in the 4th quarter. Rhumbline Advisers now owns 62,861 shares of the company's stock worth $649,000 after purchasing an additional 1,024 shares during the period. Finally, Ballentine Partners LLC lifted its position in Paragon 28 by 15.0% in the fourth quarter. Ballentine Partners LLC now owns 15,630 shares of the company's stock valued at $161,000 after purchasing an additional 2,043 shares during the last quarter. Institutional investors own 63.57% of the company's stock.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.